The Truth about Products Liability Insurance Coverage
Warshauer, Irene C., Plunkett, Catherine, Risk Management
It seems like a simple idea. When a manufacturer purchases products liability insurance, it does so with the intention of transferring he uncertainty of a possible future loss to its insurance company in exchange for a stated, fixed sum, or annual premium. The insurance is supposed to afford protection against claims that the manufactured product is defective due to design or manufacture, or that the manufacturer failed to issue proper instructions or warnings to prevent foreseeable injury. Yet this simple scenario has given birth to a complex litigation monster that continues to overwhelm courtrooms nationwide. Most products liability claims are covered for defense and indemnity under …
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Publication information: Article title: The Truth about Products Liability Insurance Coverage. Contributors: Warshauer, Irene C. - Author, Plunkett, Catherine - Author. Magazine title: Risk Management. Volume: 41. Issue: 6 Publication date: June 1994. Page number: 51+. © 1999 Risk Management Society Publishing, Inc. Provided by ProQuest LLC. All Rights Reserved.